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Guy who called $30 oil is buying energy stocks — but shorting a huge one

A fund manager who called $30-a-barrel oil before the crude crash now likes energy stocks — at least, some of them.

In 2015, Mark Yusko, founder and CEO of Morgan Creek Capital Management, predicted crude oil would approach $30 a barrel. Now he is buying stocks of oil exploration and production companies, he told investors at the Morningstar ETF conference Thursday night. But there's one big oil stock in a lot of investor portfolios Yusko won't touch.

"This is the time for cyclicals and energy, but pure energy, not ExxonMobil (NYSE: XOM)," said Yusko, who runs the Morgan Creek Tactical Allocation Fund (NASDAQ: MAGTX) and previously managed the endowment offices of Notre Dame University and the University of North Carolina at Chapel Hill.

Yusko called ExxonMobil "the most dangerous stock on the planet today," and he said part of the blame for making ExxonMobil a dangerous investment...


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